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To: Mark Fowler who wrote (113972)	1/2/2001 8:40:19 PM
From: craig crawford	Read Replies (1) \| Respond to of 164684

>> Good luck Craig it might work out if we get a middle of the month bounce. << At this point I'm not looking for 5-10 baggers. Getting out with any profit will be fine with me. If the Fed co-operates I think I will make out fine. If not, then I think I will have to regroup and reload for another shot. My largest position is SUNW and they report on the 18th, one day before options expire. My bet is that by the third week in January the market will be in a better mood when SUNW reports and options premiums will move up for me. I was hoping (not sure it will happen) that if the Fed doesn't do an inter-meeting cut this week, that maybe the market will start to rally near expiration anyway in anticipation of a 50 basis cut January 30-31. I think people are convinced that if the Fed doesn't cut this week, he will surely do something at the end of January. I suppose it's possible that techs stay down all the way up to the moment the Fed actually eases, but if you ask me some areas of tech are already poised to rebound now and it doesn't appear that any rate cut is coming anytime soon. So I think the market is improving already now, even though the major averages might not reflect it. I think by expiration the market will be much friendlier. I thought the rule of thumb was you want to be long a month before the Fed actually starts cutting rates. I guess this is a show me the money kind of a market. We will see. No risk, no reward, right? I'm quite confident that SUNW will have a nice quarter. I would have never bought Jan calls if SUNW wasn't reporting before expiration. Same for YHOO which should kick things off on Jan 10th. I don't think YHOO is as bad as everyone expects, and I hope to see some short covering ahead of their earnings so I can cut loose my calls for a profit. I figure if the market can't rally in time to save my Jan calls, it is probably down for the count and it won't do much good to have Feb or March calls which I would have to pay more for anyway. I would rather buy cheaper Jan calls with less time, and if it doesn't work out look again at calls one or two months out. If this market can't drag it's ass off the floor in the next 3 weeks, then I don't think it would have done much good to pay more for Feb calls. Perhaps March calls would catch a rally, but if my Jan calls go out worthless and the market is still horrible at the end of Jan I will probably be able to buy March calls on the cheap anyway.